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Gold bar producers are required to have a minimum market share of 25 percent under a new draft decree Economists warned that a plan to reduce the number of gold producers can lead to a supply shortage and the emergence of a black market, news website VnExpress reported Monday. The warnings came after the central bank introduced...

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A recent crackdown has brought the unofficial foreign exchange market in Hanoi to a standstill The State Bank of Vietnam Governor Nguyen Van Giau announced that foreign exchange rates on the unofficial currency market will drop in coming days as the authorities launch a crackdown on illegal dollar hoarding and trading. On Tuesday,...

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A man places stacks of dong and US dollar notes inside a bag at a bank in Ho Chi Minh City. The State Bank of Vietnam devalued the dong by 9.3 percent on February 11 in an effort to minimize the gap between the official and black market exchange rates. Following the move, the dong slid to a record low against the dollar. More...

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Late on Tuesday, August 17, SBV announced it would drop the dong’s value against the US dollar rate by two percent. VietNamNet Bridge – Late on Tuesday, August 17, the State Bank of Vietnam (SBV) announced it would drop the dong’s value against the US dollar rate by two percent. The black market adjusted immediately.   US...

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VietNamNet Bridge – The dong/dollar exchange rate in the last few days has increased rapidly VietNamNet Bridge – The dong/dollar exchange rate in the last few days in the black market and the rate quoted by commercial banks both have increased rapidly, surprising many people because the official interbank exchange rate has...

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